UK GDP revised higher in final Q1 estimate

clock

UK growth in the first quarter of 2015 stood at 0.4%, according to the third and final estimate from the Office for National Statistics.

The ONS revised up its estimate from 0.3%, which had represented the worst quarterly figure since the final three months of 2012. The increased estimate remains lower than GDP rates seen in recent quarters but was revised up as a result of methodological changes to construction output, the ONS said. Year-on-year GDP was revised up from 2.4% to 2.9%, higher than the 2.5% figure economists' had forecast. A final 3% figure for 2014 as a whole marked the best growth rate since 2006. Less positive news, however, came in the form of the UK's current account deficit. Figures for 201...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK election high on clients' radars as impact on finances is flagged

UK election high on clients' radars as impact on finances is flagged

Majority of advisers have been asked by clients about the financial impact

Isabel Baxter
clock 13 June 2024 • 1 min read
Inflation and financial planning — focusing on the bigger picture

Inflation and financial planning — focusing on the bigger picture

Well-informed advisers can better guide their clients through turbulent times

Adam Leci
clock 07 June 2024 • 5 min read
More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read